deposit of amount by sale of land
This query is : Resolved
28 May 2018
Respected members,
One of my client had deposited an amount of ₹6500000 in saving bank account, mutual funds and shares. The amount is received in consideration of sale of agriculture land (rural). IT deptt had send the notice in the year 2015. Compliance response is showing the same notices. I had filed the response as showing income is not taxable. will deptt issue any further notice after filing response?
30 May 2018
if they have any additional query, then they make issue follow up notices. Is it not obvious?
Message likes :
1 times
30 May 2018
In what time period may department issue notice in case of additional query?
30 May 2018
they have a lot of time. Section 148 for example can be done even after 6 years from the end of assessment of year
Message likes :
1 times
30 May 2018
AY YEAR IS 2012- 13 SO THEY CAN ISSUE NOTICE TILL 31 MAR 2019?
30 May 2018
refer this https://www.incometaxindia.gov.in/charts%20%20tables/limitation%20periods.htm
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITR 2 Short Term gain & Long term gain
- Off Market debit and credit transaction
- Itr 1 processing
- Reporting Income under Section 44ADA
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- ITR returnFY25-26
- Short Term Capital gain on shares bought and sold after 2018 onwards
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Bank Accounts in Balance Sheet for ITR 3
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
